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2019/10/30 News

DBJ Invests in Common Stock of
Global Positioning Augmentation Service Corporation
Strengthening Japan's Industrial Competitiveness through Positioning Technology

Development Bank of Japan Inc. ("DBJ") has added to its investment in the common stock of Global Positioning Augmentation Service Corporation ("GPAS"), headquartered in Chiyoda-ku, Tokyo. Hideshi Kozawa is the president of GPAS.

Established in June of 2017, GPAS is working on the commercialization of global positioning augmentation services offering accuracy down to the centimeter. Its investors are led by Osaka-based Hitachi Zosen Corporation (Takashi Tanisho, Chairman & President) and comprise ten other companies, including DBJ.

Demand is on the rise for high-performance positioning data, as opportunities for its use are growing in fields including agriculture, construction, and disaster prevention. Using the quasi-zenith satellite Michibiki and another positioning satelites, GPAS aims to offer high-precision positioning reinforcement services in support of global development in areas such as ocean and weather observation, as well as for self-driving cars, agricultural machinery and construction machinery. The company hopes to provide an environment enabling accurate positioning at any time, anywhere in the world.

The current investment in common stock, conducted in collaboration with existing shareholders, will accelerate commercialization by enabling GPAS to improve its equipment and facilities while strengthening its research and development systems.

Automated driving, a result of the company's establishment of positioning technology and services, not only raises the product competitiveness of Japanese manufacturers of automobiles, agricultural and construction machinery, but improves the productivity of transportation services, agriculture and construction industries that utilize automated driving technology. As the investment is expected to build competitiveness in a wide range of Japanese industries, DBJ decided to provide support through its Special Investment Operations program.

In actively supporting its clients' efforts to contribute to regional growth and development, DBJ is following its corporate philosophy of "applying financial expertise to design the future - opening up new frontiers to resolve the issues of our clients and society and promote sustainable development for Japan and the world."


Inquiries:
Equity Finance Team Kansai Branch            
Telephone: +81-6-4706-6455

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